The Role of the IoT in the Global Industrial and Manufacturing Market

“In this latest piece of IoT research, The Role of the IoT in the Global Industrial and Manufacturing Market, Strategy Analytics analyses:

  • The Opportunities and Benefits IoT offers the Industrial and Manufacturing markets, including automation, predictive maintenance, digital twins and supply chain optimisation.
  • The Challenges and Inhibitors in this market, including legacy system integration, connectivity, privacy and security.
  • The revenue potential for IoT in this sector, forecast out to 2025.
  • How IoT is being used by manufacturing firms, based on Strategy Analytics Enterprise IoT Deployment Survey results.

Matt Wilkins, senior analyst, IoT Research at Strategy Analytics and author of the report noted, “As digital transformation sweeps through all vertical markets, the Industrial market offers many opportunities for IoT. For example, allowing a manufacturing firm to draw upon data from all parts of its activities, feeding into analytics processes from which insights are derived that can positively affect the optimisation and efficiency of the company, or using that information to prevent machine failure before it occurs.””

Moreover: https://www.iot-now.com/2018/08/06/86914-promising-future-iot-industrial-markets/

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How will Blockchain assist the banks?

“Reasoning how this will be possible, the company that specializes in providing best-in-class market research and business intelligence across 6 key sectors, said that blockchain will assist in cost reductions in payment processing, reconciliation, treasury operations and compliance.

Juniper Research made this major FinTech tweet on 1st August based on their press release, stating: “#Blockchain deployments to save #Banks more than $27bn annually by 2030, with cost reductions not just in #Payments processing and reconciliation, but in treasury operations and compliance. #Fintech #Banking”

The research findings claim that there will be an 11% reduction in costs per on-chain transaction.

The company further stated: “Indeed, the research argued that in compliance, automation of identity/money-laundering checks, allied to capability of the blockchain to verify the digital identity of an individual, should enable savings of up to 50% of the existing costs base within a few years.”

However, the research also cautioned about the need to parallel-run blockchain-based services with legacy systems. This would ensure that ‘savings would not be realized for several years after initial deployment, with annual cost reductions not reaching $1 billion per annum until 2024’.”

Moreover: https://bcfocus.com/news/blockchain-banks-27bn-2030/20481/

AI technology is not just an experiment

“Most said the reason wasn’t that they wanted to keep their AI activities secret, but that they weren’t actually very far along and hence their projects were not worth discussing yet. They were doing lots of pilots, proofs of concept, and prototypes, but they had few production deployments. When they did have AI systems in production, most were machine learning-based systems that had been in place for many years. This is particularly true in financial services, where large-scale “scoring” has been used to evaluate customers for credit and potential fraud for well over a decade. Some said to us that they didn’t really consider these projects to be examples of AI — consistent with the common view of AI that it describes technology that is never really here yet. Others say that they have robotic process automation (RPA) implementations in place, but most are relatively small, and there is also debate about whether RPA is really AI or not.”
Moreover: https://sloanreview.mit.edu/article/the-problem-with-ai-pilots/

Onde a mente é tudo o que importa

“A ciência comportamental, que lida principalmente com a ação humana, é um campo que está crescendo em todos os setores, do setor bancário à TI, da saúde à educação, precisando de profissionais. E com o fornecimento longe da demanda, esse é um bom momento para explorar o campo. “A ciência basicamente entra no funcionamento do cérebro e desmascara as teorias psicológicas mais tradicionais”, diz Dominic, cuja empresa, uma das primeiras a se aventurar no campo no país, trabalhou em vários projetos governamentais nacionais e internacionais. Em Mumbai, por exemplo, diz Dominic, foi um experimento científico comportamental que ajudou a reduzir o número de mortes durante a travessia de trilhos. “As formas tradicionais de dizer às pessoas que não cruzem não funcionam. Sugerimos que o governo adicionasse algumas linhas amarelas e as taxas de acidentes cairam em 75%”, diz Dominic. “A psicologia tradicional fala sobre a construção da consciência. Nossa teoria diz que todos esses problemas são causados por uma lacuna de conscientização. Como arquitetos comportamentais, inventamos maneiras de construir esse comportamento na natureza humana”, acrescenta.”
https://timesofindia.indiatimes.com/city/chennai/where-the-mind-is-all-that-matters/articleshow/64579390.cms

Como esta nova tecnologia baseada em Inteligência Artificial pode ser um benefício para a privacidade

“O novo sistema utiliza uma técnica de deep learning chamada de Generative Adversarial Networks (GANs), que coloca dois algoritmos de IA um contra o outro. A equipe projetou um conjunto de duas redes neurais: a primeira trabalhando para identificar rostos e a segunda trabalhando para interromper a tarefa de reconhecimento facial da primeira. Os dois estão constantemente lutando e aprendendo uns com os outros, estabelecendo uma competição contínua. O resultado é um filtro semelhante ao Instagram, que pode ser aplicado a fotos para proteger a privacidade.”

Veja mais em: https://economictimes.indiatimes.com/magazines/panache/how-this-new-ai-based-tech-can-be-a-boon-for-privacy/articleshow/64424574.cms